Helios Towers PLC Results of capped tender offer (2073Q)
October 16 2023 - 2:01AM
UK Regulatory
TIDMHTWS
RNS Number : 2073Q
Helios Towers PLC
16 October 2023
HELIOS TOWERS plc
Results of capped tender offer
London, 16 October 2023: Helios Towers plc ("Helios Towers",
"the Group" or "the Company"), the independent telecommunications
infrastructure company, is pleased to announce that US$325m
aggregate principal of the Group's US$975m 7.000% Senior Notes have
been tendered and accepted. As previously announced, the tender
offer will be funded through proceeds from the new up to US$720m
loan and credit facilities raised in September 2023. The undrawn
amounts of the loan facilities remain available for future
refinancing or general corporate purposes.
Key highlights of the transaction:
-- Extends the Company's weighted average remaining debt maturity by almost one year(1) .
-- Neutral impact to gross and net leverage.
-- Group cost of debt(1) increases marginally from 6.7% to 7.1%,
despite a rising rate environment, reflecting the improved
diversification and scale of the business.
-- Following the capped tender offer the Group will continue to
have over US$400m of undrawn debt facilities.
Tom Greenwood, Chief Executive Officer, commented:
" We are pleased to proactively manage our balance sheet through
a partial tender offer of our 2025 Senior Notes. Alongside
extending our maturities, our cost of debt has remained largely
unchanged, despite the rising rate environment. This is a
reflection of our improved credit profile, achieved through
geographic expansion, improved hard-currency earnings, increased
scale and strong conviction in the business by our key banks. We
look forward to discussing this transaction, alongside our Q3
performance during our results call on 2 November 2023."
(1) Calculated on a weighted basis using reported drawn debt as
of Q2 2023, pro forma for the transaction.
Investor Relations
Chris Baker-Sams - Head of Strategic Finance and Investor
Relations
investorrelations@heliostowers.com
+44 (0)782 511 2288
Media relations
Edward Bridges / Stephanie Ellis - FTI Consulting LLP
+44 (0)20 3727 1000
About Helios Towers
-- Helios Towers is a leading independent telecommunications
infrastructure company, having established one of the most
extensive tower portfolios across Africa and the Middle East. It
builds, owns and operates telecom passive infrastructure, providing
services to mobile network operators.
-- Helios Towers owns and operates over 13,800 telecommunication
tower sites in nine countries across Africa and the Middle
East.
-- Helios Towers pioneered the model in Africa of buying towers
that were held by single operators and providing services utilising
the tower infrastructure to the seller and other operators. This
allows wireless operators to outsource non-core tower-related
activities, enabling them to focus their capital and managerial
resources on providing higher quality services more
cost-effectively.
For more information about Helios Towers, please visit:
https://www.heliostowers.com/investors/
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END
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